Just an idea. Will wait for a market structure shift and a fill of that displacement towards the upside of the market.
Here is were I will be taking profit today in relation to the longer term idea I had posted with a monthly goal.
Price is setting up again. As said before the 50% of the monthly candle is a very long term goal. I will look to take profit at the TP 1 line on my chart here. The 50% of the daily gap would be good as well. Free fall time?
If price gives me confirmation on the lower time frame I will look to sell. If this is the weekly pivot then price should trend down for at least today ad some of tomorrow.
Oil has retraced to the .78 fib of the most recent bullish breakout. Looking for buys